University Council has now approved the University’s financial statements for the year ended 31 July 2012. These have been published on the University website at http://southampton.likn.co/finance/central/FS2012.pdf. We print a small number of paper copies, and a printed copy can be obtained from Mark Shutler ([email protected])
The University produced a surplus for the year of £14.2 million on total turnover of £438 million (the surplus representing 3.2% of turnover). While satisfactory, a large proportion of the surplus reflects the recognition of the value of the acquisition of the Broadlands Archives (£6 million), and a reduction in the charge for depreciation. Neither of these accounting transactions adds to the University’s cash. The challenges for 2012/13 and beyond in a volatile environment for student recruitment are significant. Despite the recent reductions in public funding, the University is entering a period of very considerable change and challenge from a position of financial strength.